Refer to the above figure. Which variable is autonomous with respect to real GDP?
A. real investment spending
B. the sum of real consumption and real saving
C. real consumption spending
D. real saving
Answer: A
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National accounts measure ________
A) the labor force participation rate in a country B) the total amount of capital goods available in a country C) the level of aggregate economic activity in a country D) the total money supply in a country
For a risk-averse individual, as wealth increases, total utility
A) increases at a decreasing rate. B) increases at a constant rate. C) increases at an increasing rate. D) is constant.
Explain the utilitarianism principle. How is it deficient?
What will be an ideal response?
The unemployment that results from the quantity of labor supplied exceeding the quantity demanded is called structural unemployment
a. True b. False Indicate whether the statement is true or false